This is a self-assessment, meaning, it is information that the issuer has written themselves. The XRP Ledger Foundation does not recommend or endorse any individual token. Read more.
Basic information
Project name: RDX
Currency: RDX (RDX)
Issuing account: rQa3LW1Au4GxGHzDBkCMKuPcn326w4Wcj2
Distribution accounts: rDLPDG8pNpXsk4xFxHApHd83W7nKUAvfzf
This is revision number 1, signed March 21, 2022 by rDLPDG8pNpXsk4xFxHApHd83W7nKUAvfzf
Description: RDX is a Utility token for a NFT Exchange utilised concurrently with the XDX token by DPMonks Finance Ltd. It’s purpose is ownership for APY, Minting and Governance on the NFT platform.
RDX current supply is 100k and approximately 70% of the total supply has been distributed to XDX token holders through a single airdrop in February 2022.
RDX was designed to be a new type of rewards and support token, where instead of users holding large amounts of value for rewards they can hold 1 token type of any amount to receive rewards. Also to support the platform minting and governance through ownership would be available.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
RDX has multiple use case by simply owning the token in the wallet on a NFT EXCHANGE, meaning you do not need to hold multiple tokens to be rewarded for supply held. Holding just this 1 token qualifies you to be rewarded with each issued token used.
Purpose: What is the reason for issuing a new token, rather than using an existing? What purpose does this token serve, that is not possible with the native XRP token or other already existing tokens?
Utility token in short supply and high demand. By using this token as a rewards and support token with low supply and increasing demand means the RDX not distributed can be used on a feature not disclosed publicly which involves adding value into a rewardS feature not possible with XRP (because XRP has a larger supply and lower competitive value currently)
Whitepaper/sales material: https://www.dpmonksfinance.com/services-9
The whitepaper includes concepts of how and when are the tokens created, total supply and if applicable the distribution models and total amount of allocation.
Risk reminder: The issuer has disclosed a warning or a reminder of the risks associated with crypto/tokens.
Bug bounty program: This is not applicable for this token.
Legal Entity
The self-assessment is made on behalf of a legal entity (for example the issuer is a general partnership, limited partnership, private limited company, public limited company, corporation, commercial association or other).
Website: https://www.dpmonksfinance.com/
Website information: The website should disclose the following information:- Details of the legal entity: official name and registry code, company headquarters mailing address
- Contact information: e-mail and other contact information
- Core team members
- Whitepaper if available
The website contains relevant information.
Business plan: A business plan should entail:
- the amount of revenue and expenditure by area of activity
- obligations related to the issuing of the token
- the technical administration of the company
- operational strategy
- the intended activities related to the token
- general principles of risk management and strategy of risk management
- policy for the financing of activities.
The issuer has developed a business plan for the next 3 years.
Risk assessment: A risk assessment should include identification of, assessment of impact and likelihood and mitigation measures and status of implementation for applicable risk scenarios.
The issuer has conducted risk assessment and implemented risk management activities.
Internal policies: Critical internal policies are necessary to manage risks.
The issuer has adopted and implemented appropriate internal policies and procedures in the areas of information security, business continuity, risk management and accounting.
Legal requirements: Legal requirements may vary per country and project. It is the responsibility of the legal entity to ensure legal compliance.
The issuer has assessed whether and what legal requirements apply to the project (licenses, jurisdictions, anti-money laundering regulations etc).
Self-assessment revisions
| Revision | Date |
|---|---|
| Revision 1 | March 21, 2022 |